LAAMDIS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LAAMDIS
Largest movements
- Stocks and contracts -€398,290
down €398,290 (-18.8%), from €2.1m to €1.7m
- Intangible fixed assets -€140,129
down €140,129 (-38.7%), from €362,000 to €221,871
- Cash +€101,619
up €101,619 (+667%), from €15,230 to €116,849
mainly Stocks and contracts (+€398,290) and Depreciation (+€237,770)
- Tangible fixed assets -€92,966
down €92,966 (-2.4%), from €3.8m to €3.7m
of which Land and buildings: -€92,778
- Short-term financial debts -€316,535
down €316,535 (-26.6%), from €1.2m to €873,380
- Profit (loss) carried forward -€283,517
down €283,517 (-22.6%), from -€1.3m to -€1.5m
- Other debts +€127,329
up €127,329 (+8.3%), from €1.5m to €1.7m
- Accrued charges and deferred income +€120,401
up €120,401 (+105%), from €114,607 to €235,008
- Other operating charges +€156,484
up €156,484 (+5,839%), from €2,680 to €159,164
- Gross operating margin -€81,215
down €81,215 (-30.0%), from €270,729 to €189,514
- Financial charges -€49,439
down €49,439 (-21.1%), from €234,042 to €184,603
- Taxes -€12,801
down €12,801 (-85.2%), from €15,022 to €2,221
- Financial income -€5,692
down €5,692 (-10.9%), from €52,137 to €46,445
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,287,690 | €6,813,449 | -€474,241 | -6.5% |
| Fixed assets | 21/28 | €4,196,863 | €3,963,768 | -€233,095 | -5.6% |
| Intangible fixed assets | 21 | €362,000 | €221,871 | -€140,129 | -38.7% |
| Tangible fixed assets | 22/27 | €3,834,863 | €3,741,897 | -€92,966 | -2.4% |
| Land and buildings | 22 | €3,834,675 | €3,741,897 | -€92,778 | -2.4% |
| Plant, machinery and equipment | 23 | €188 | - | -€188 | |
| Current assets | 29/58 | €3,090,827 | €2,849,681 | -€241,146 | -7.8% |
| Stocks and contracts in progress | 3 | €2,121,496 | €1,723,206 | -€398,290 | -18.8% |
| Stocks | 30/36 | €2,121,496 | €1,723,206 | -€398,290 | -18.8% |
| Amounts receivable within one year | 40/41 | €945,402 | €997,726 | +€52,324 | +5.5% |
| Trade receivables | 40 | €12,906 | €12,906 | = | 0.0% |
| Other amounts receivable | 41 | €932,496 | €984,820 | +€52,324 | +5.6% |
| Current investments | 50/53 | €5,396 | €8,532 | +€3,136 | +58.1% |
| Cash at bank and in hand | 54/58 | €15,230 | €116,849 | +€101,619 | +667% |
| Deferred charges and accrued income | 490/1 | €3,303 | €3,368 | +€65 | +2.0% |
| Total equity and liabilities | 10/49 | €7,287,690 | €6,813,449 | -€474,241 | -6.5% |
| Equity | 10/15 | €3,487,713 | €3,155,985 | -€331,728 | -9.5% |
| Contributions | 10/11 | €1,852,964 | €1,852,964 | = | 0.0% |
| Reserves | 13 | €2,887,512 | €2,839,301 | -€48,211 | -1.7% |
| Tax-exempt reserves | 132 | €1,168,493 | €1,120,281 | -€48,212 | -4.1% |
| Distributable reserves | 133 | €1,719,019 | €1,719,020 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€1,252,763 | -€1,536,280 | -€283,517 | -22.6% |
| Provisions and deferred taxes | 16 | €389,498 | €373,427 | -€16,071 | -4.1% |
| Deferred taxes | 168 | €389,498 | €373,427 | -€16,071 | -4.1% |
| Amounts payable | 17/49 | €3,410,479 | €3,284,037 | -€126,442 | -3.7% |
| Amounts payable after more than one year | 17 | €524,711 | €468,043 | -€56,668 | -10.8% |
| Financial debts | 170/4 | €524,711 | €468,043 | -€56,668 | -10.8% |
| Amounts payable within one year | 42/48 | €2,771,161 | €2,580,986 | -€190,175 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €28,755 | €29,969 | +€1,214 | +4.2% |
| Financial debts | 43 | €1,189,915 | €873,380 | -€316,535 | -26.6% |
| Credit institutions | 430/8 | €1,189,915 | €873,380 | -€316,535 | -26.6% |
| Trade debts | 44 | €7,587 | €5,034 | -€2,553 | -33.6% |
| Suppliers | 440/4 | €7,587 | €5,034 | -€2,553 | -33.6% |
| Taxes, remuneration and social security | 45 | €14,840 | €15,210 | +€370 | +2.5% |
| Taxes | 450/3 | €14,840 | €15,210 | +€370 | +2.5% |
| Other amounts payable | 47/48 | €1,530,064 | €1,657,393 | +€127,329 | +8.3% |
| Accrued charges and deferred income | 492/3 | €114,607 | €235,008 | +€120,401 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,182 | €237,770 | +€588 | +0.2% |
| Other operating charges | 640/8 | €2,680 | €159,164 | +€156,484 | +5,839% |
| Gross operating margin | 9900 | €270,729 | €189,514 | -€81,215 | -30.0% |
| Operating profit (loss) | 9901 | €30,867 | -€207,420 | -€238,287 | |
| Financial income | 75/76B | €52,137 | €46,445 | -€5,692 | -10.9% |
| Recurring financial income | 75 | €52,137 | €46,445 | -€5,692 | -10.9% |
| Financial charges | 65/66B | €234,042 | €184,603 | -€49,439 | -21.1% |
| Recurring financial charges | 65 | €234,042 | €184,603 | -€49,439 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€151,038 | -€345,578 | -€194,540 | -129% |
| Transfer from deferred taxes | 780 | €16,070 | €16,070 | = | 0.0% |
| Income taxes | 67/77 | €15,022 | €2,221 | -€12,801 | -85.2% |
| Profit (loss) for the period | 9904 | -€149,990 | -€331,729 | -€181,739 | -121% |
| Transfer from tax-exempt reserves | 789 | €48,211 | €48,212 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€101,779 | -€283,517 | -€181,738 | -179% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.